Thinking about your death isn’t the most enjoyable part of your life. However, ensuring your family’s future is protected when you’re gone is very important! Life insurance can help your family pay for funeral expenses, pay off any debt you left behind, and much more.
So why do people avoid buying life insurance before it’s too late? Easy! There are many myths and misconceptions about life insurance and we’re here to debunk those myths!
Myth 1: Life insurance is expensive. FALSE! Life insurance can cost less than your daily cup of coffee. On average, millennials overestimate the cost of life insurance by 213%! For a young and healthy adult, the average cost of a $250,000 life insurance policy is around $160 annually.
Myth 2: The choices are overwhelming. FALSE! While there are many different varieties of life insurance, the best choice for most people is a term life insurance policy. You should always consult your insurance agent about your options and they will help you choose the best policy.
Myth 3: I’m young and healthy. I don’t need life insurance. FALSE! The younger and healthier you are the cheaper your life insurance policy will be. You are never too young, or too healthy, for life insurance!
Myth 4: Stay-at-home parents don’t need life insurance. FALSE! If you’re a stay-at-home parent and you pass away, who will take care of the children? Your elderly parents? Your pets? Your surviving spouse will need to continue working and may need to hire help. Life insurance could help him or her pay for these costs.
Myth 5: Life insurance through an employer is sufficient. FALSE! While group life insurance is a great benefit, the payout is typically low and may not support a young family. What happens if you lose your job? A workplace policy doesn’t follow you. Having a personal policy is the safest and best option.
Family always comes first. Their future depends on you! Protect your family and loved ones today by calling Richard R. Green Insurance Agency at Hampden (413) 566-0028 | Monson (413) 267-3495.